fragmentation of greuel riding, supervision, and enforcement led to finger-pointing. today the consumer bureau has market wide coverage and will focus on more effective regulation and supervision. it can focus on improving financial literacy and can help to set a level playing field for competition. the government did not have the authority to a unlined large and substantially interconnected financial firms that failed such as bear stearns, lehman brothers, and -- without disrupting the broader financial system. today major financial firms will now be subject to heightened standards including higher capitol liquidity requirements. major firms will be required to internalize costs which would give them incentives to shrink and reduce the complexity, leverage, and interconnection. it will be a bigger capital buffer to absorb losses. this will help to reduce risk in and among these financial institutions. in the event such an institution fails these actions will minimize the risk that any one firm failure will pose a danger to the stability of the financial system. the c

fragmentation of greuel riding, supervision, and enforcement led to finger-pointing. today the consumer bureau has market wide coverage and will focus on more effective regulation and supervision. it can focus on improving financial literacy and can help to set a level playing field for competition. the government did not have the authority to a unlined large and substantially interconnected financial firms that failed such as bear stearns, lehman brothers, and -- without disrupting the broader financial system. today major financial firms will now be subject to heightened standards including higher capitol liquidity requirements. major firms will be required to internalize costs which would give them incentives to shrink and reduce the complexity, leverage, and interconnection. it will be a bigger capital buffer to absorb losses. this will help to reduce risk in and among these financial institutions. in the event such an institution fails these actions will minimize the risk that any one firm failure will pose a danger to the stability of the financial system. the c